Global stainless crude steel output in 2005 is expected to reach 25.3 million tonnes – up from 24.4 million tonnes a year earlier, according to MEPS (International) Ltd. This equates to an increase of 3.7 per cent. Over the past 12 months the markets in the industrialised nations have been oversupplied. This has led to basis price reductions in the EU and USA.
